UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q





x
          QUARTERLY REPORT
UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934





For the
quarter ended September 30, 2009





o
           TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934





For the
transition period from _____ to _____





Commission
File Number: 333-148664





DYNAMIC APPLICATIONS
CORP.


(Exact
name of small business issuer as specified in its charter)





Delaware
              98-0573566(State
      of incorporation)
              (IRS
      Employer ID Number)





C/o Beit
Gibor Sport


7
Menachem Begin Street


Ramat Gan
ISRAEL 52521


(Address
of principal executive offices)





972 - (3)
611-6262


(Issuer's
telephone number)





46
Techelet Street Modiin Israel 71700


(Former
name, former address and former fiscal year, if changed since last
report)





Check
whether the issuer (1) filed all reports required to be filed by Section 13 or
15(d) of the Exchange Act during the past 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days. Yes x No  ̈





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):





Large
      accelerated
      filer                          
       ̈
            
            Accelerated
      filer                                                      
       ̈Non-accelerated
      filer                           
       ̈
            
            Smaller
      reporting
      company                                   
      x(Do
      not check if a smaller reporting company)





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes  ̈ No x





As
of  November 5 , 2009 there were 86,495,000 shares of common
stock outstanding .









TABLE
OF CONTENTS





PagePART
      IItem
      1. Financial Statements
                
                
                F-1Item
      2. Management’s Discussion and Analysis or Plan of
    Operation
                
                
                3Item
      3 Quantitative and Qualitative Disclosures About Market
    Risk
                
                
                6Item
      4 Controls and Procedures
                
                
                6Item
      4(T) Controls and Procedures
                
                
                6PART
      IIItem
      1. Legal Proceedings
                
                
                6Item
      IA. Risk Factors
                
                
                6Item
      2. Unregistered Sales of Equity Securities and Use of
    Proceeds
                
                
                7Item
      3. Defaults Upon Senior Securities
                
                
                7Item
      4. Submission of Matters to a Vote of Security Holders
                
                
                7Item
      5. Other Information
                
                
                7Item
      6. Exhibits
                
                
                7




2





PART
I


FINANCIAL
INFORMATION





Item
1. Financial Statements.





DYNAMIC
APPLICATIONS CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 
 INDEX
TO FINANCIAL STATEMENTS
 SEPTEMBER
30, 2009
 
 Financial
      Statements-Balance Sheets as of September
      30, 2009 and December 31, 2008
                        F-2Statements
      of Operations for the Three Months and Nine Months EndedSeptember
      30, 2009 and 2008, and Cumulative from Inception
                        F-3Statement
      of Changes in Stockholders’ Equity for the Period from
      InceptionThrough
      September 30, 2009
                        F-4Statements
      of Cash Flows for the Nine Months Ended September 30, 2009 and
      2008,and
      Cumulative from Inception
                        F-5Notes
      to Financial Statements
                        F-6
  F-1
  DYNAMIC
APPLICATIONS CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 BALANCE
SHEETS
 AS OF SEPTEMBER 30,
2009 AND DECEMBER 31, 2008
 
 As of
                                            
                                            
                                            As ofSeptember 30,
                                            
                                            
                                            December 31,2009
                                            
                                            
                                            2008(Unaudited)
                                            
                                            
                                            (Audited)Current
      Assets:Cash
                                            
                                            $
                                            68
                                            
                                            
                                            $
                                            131,920Prepaid
      expenses
                                            
                                            
                                            7,500
                                            
                                            
                                            
                                            20,000Total
      current assets
                                            
                                            
                                            7,568
                                            
                                            
                                            
                                            151,920Other
      Assets:Patent,
      net of accumulated amortization $5,610 and $2,805,
      respectively
                                            
                                            
                                            13,090
                                            
                                            
                                            
                                            15,895Total
      other assets
                                            
                                            
                                            13,090
                                            
                                            
                                            
                                            15,895Total
      Assets
                                            
                                            $
                                            20,658
                                            
                                            
                                            $
                                            167,815LIABILITIES AND STOCKHOLDERS'
      (DEFICIT)Current
      Liabilities:Accounts
      payable and accrued liabilities
                                            
                                            $
                                            16,500
                                            
                                            
                                            $
                                            17,000Loans
      from related parties - directors and stockholders
                                            
                                            
                                            12,000
                                            
                                            
                                            
                                            300Total
      current liabilities
                                            
                                            
                                            28,500
                                            
                                            
                                            
                                            17,300Total
      liabilities
                                            
                                            
                                            28,500
                                            
                                            
                                            
                                            17,300Commitments
      and ContingenciesStockholders'
      Equity:Common
      stock, par value $.0001 per share, 200,000,000 shares authorized;
      86,445,000 and 75,000,000 shares issued and outstanding,
      respectively
                                            
                                            
                                            8,645
                                            
                                            
                                            
                                            7,500Additional
      paid-in capital
                                            
                                            
                                            284,405
                                            
                                            
                                            
                                            233,400Discount
      on common stock
                                            
                                            
                                            (600
                                            )
                                            
                                            
                                            (600
                                            )(Deficit)
      accumulated during the development stage
                                            
                                            
                                            (300,292
                                            )
                                            
                                            
                                            (89,785
                                            )Total
      stockholders' equity
                                            
                                            
                                            (7,842
                                            )
                                            
                                            
                                            150,515Total
      Liabilities and Stockholders' Equity
                                            
                                            $
                                            20,658
                                            
                                            
                                            $
                                            167,815
  The
accompanying notes to financial statements are
 an
integral part of these statements.
  F-2
  DYNAMIC
APPLICATIONS CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 STATEMENTS
OF OPERATIONS
 FOR
THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2009 AND
 2008,
AND CUMULATIVE FROM INCEPTION (MARCH 7, 2008)
 THROUGH
SEPTEMBER 30, 2009
 (Unaudited)
 
 Three Months Ended
                                            
                                            
                                            Nine Months Ended
                                            
                                            
                                            CumulativeSeptember 30,
                                            
                                            
                                            September 30,
                                            
                                            
                                            From2009
                                            
                                            
                                            2008
                                            
                                            
                                            2009
                                            
                                            
                                            2008
                                            
                                            
                                            Inception(Unaudited)
                                            
                                            
                                            (Unaudited)
                                            
                                            
                                            (Unaudited)
                                            
                                            
                                            (Unaudited)
                                            
                                            
                                            (Unaudited)Revenues
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            -Expenses:General
      and administrative-Research
      and development
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            45,000
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            45,000Professional
      fees
                                            
                                            
                                            14,244
                                            
                                            
                                            
                                            6,360
                                            
                                            
                                            
                                            57,349
                                            
                                            
                                            
                                            24,630
                                            
                                            
                                            
                                            108,356Consulting
                                            
                                            
                                            15,053
                                            
                                            
                                            
                                            1,520
                                            
                                            
                                            
                                            40,108
                                            
                                            
                                            
                                            1,520
                                            
                                            
                                            
                                            64,678Officer's
      compensation
                                            
                                            
                                            6,800
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            58,835
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            62,835Investor
      relations
                                            
                                            
                                            401
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            2,056
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            2,056Amortization
                                            
                                            
                                            935
                                            
                                            
                                            
                                            935
                                            
                                            
                                            
                                            2,805
                                            
                                            
                                            
                                            1,870
                                            
                                            
                                            
                                            5,610Legal
      - incorporation
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            2,050
                                            
                                            
                                            
                                            2,050Other
                                            
                                            
                                            177
                                            
                                            
                                            
                                            307
                                            
                                            
                                            
                                            3,400
                                            
                                            
                                            
                                            677
                                            
                                            
                                            
                                            4,706Total
      general and administrative expenses
                                            
                                            
                                            37,610
                                            
                                            
                                            
                                            9,122
                                            
                                            
                                            
                                            209,553
                                            
                                            
                                            
                                            30,747
                                            
                                            
                                            
                                            295,291(Loss)
      from Operations
                                            
                                            
                                            (37,610
                                            )
                                            
                                            
                                            (9,122
                                            )
                                            
                                            
                                            (209,553
                                            )
                                            
                                            
                                            (30,747
                                            )
                                            
                                            
                                            (295,291
                                            )Other
      Income (Expense)
                                            
                                            
                                            -
                                            
                                            
                                            
                                            (984
                                            )
                                            
                                            
                                            (954
                                            )
                                            
                                            
                                            (984
                                            )
                                            
                                            
                                            (5,001
                                            )Provision
      for income taxes
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -
                                            
                                            
                                            
                                            -Net
      (Loss)
                                            
                                            $
                                            (37,610
                                            )
                                            
                                            $
                                            (10,106
                                            )
                                            
                                            $
                                            (210,507
                                            )
                                            
                                            $
                                            (31,731
                                            )
                                            
                                            $
                                            (300,292
                                            )(Loss)
      Per Common Share:(Loss)
      per common share - Basic and Diluted
                                            
                                            $
                                            (0.00
                                            )
                                            
                                            $
                                            (0.00
                                            )
                                            
                                            $
                                            (0.00
                                            )
                                            
                                            $
                                            (0.00
                                            )Weighted
      Average Number of Common SharesOutstanding - Basic and
      Diluted
                                            
                                            
                                            86,193,913
                                            
                                            
                                            
                                            13,500,000
                                            
                                            
                                            
                                            85,042,747
                                            
                                            
                                            
                                            10,557,693
 The
accompanying notes to financial statements are
 an
integral part of these statements.
  F-3
  DYNAMIC
APPLICATIONS CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 STATEMENT
OF CHANGES IN STOCKHOLDERS' EQUITY
 FOR
THE PERIOD FROM INCEPTION (MARCH 7, 2008)
 THROUGH
SEPTEMBER  30, 2009
 (Unaudited)
 
 (Deficit)AccumulatedAdditional
                              
                              
                              Discount
                              
                              
                              During theCommon stock
                              
                              
                              Paid-in
                              
                              
                              on Common
                              
                              
                              DevelopmentShares
                              
                              
                              Amount
                              
                              
                              Capital
                              
                              
                              Stock
                              
                              
                              Stage
                              
                              
                              TotalsBalance
      - March 7, 2008
                              
                              
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -Common
      stock issued for cash
                              
                              
                              9,000,000
                              
                              
                              
                              900
                              
                              
                              
                              -
                              
                              
                              
                              (600
                              )
                              
                              
                              -
                              
                              
                              
                              300Common
      stock issued for cash
                              
                              
                              6,000,000
                              
                              
                              
                              600
                              
                              
                              
                              59,400
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              60,000Common
      stock issued for cash
                              
                              
                              60,000,000
                              
                              
                              
                              6,000
                              
                              
                              
                              174,000
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              180,000Net
      (loss) for the period
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (89,785
                              )
                              
                              
                              (89,785
                              )Balance
      - December 31, 2008
                              
                              
                              75,000,000
                              
                              
                              
                              7,500
                              
                              
                              
                              233,400
                              
                              
                              
                              (600
                              )
                              
                              
                              (89,785
                              )
                              
                              
                              150,515Common
      stock issued for cash
                              
                              
                              11,145,000
                              
                              
                              
                              1,115
                              
                              
                              
                              36,035
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              37,150Common
      stock issued for cash
                              
                              
                              300,000
                              
                              
                              
                              30
                              
                              
                              
                              14,970
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              15,000Net
      (loss) for the period
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (210,507
                              )
                              
                              
                              (210,507
                              )Balance
      - September 30, 2009
                              
                              
                              86,445,000
                              
                              
                              $
                              8,645
                              
                              
                              $
                              284,405
                              
                              
                              $
                              (600
                              )
                              
                              $
                              (300,292
                              )
                              
                              $
                              (7,842
                              )
 The
accompanying notes to financial statements are
 an
integral part of this statement.
  F-4
  DYNAMIC
APPLICATIONS CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 STATEMENTS
OF CASH FLOWS (NOTE 2)
 FOR
THE NINE MONTHS ENDED SEPTEMBER  30, 2009 AND 2008,
 AND
CUMULATIVE FROM INCEPTION (MARCH 7, 2008)
 THROUGH
SEPTEMBER  30, 2009
 (Unaudited)
 
 Nine Months Ended
                    
                    
                    CumulativeSeptember 30,
                    
                    
                    From2009
                    
                    
                    2008
                    
                    
                    Inception(Unaudited)
                    
                    
                    (Unaudited)
                    
                    
                    (Unaudited)Operating
      Activities:Net
      (loss)
                    
                    $
                    (210,507
                    )
                    
                    $
                    (31,731
                    )
                    
                    $
                    (300,292
                    )Adjustments
      to reconcile net (loss) to net cash (used in) operating
      activities:Amortization
                    
                    
                    2,805
                    
                    
                    
                    1,870
                    
                    
                    
                    5,610Changes
      in net assets and liabilities-Prepaid
      expenses
                    
                    
                    12,500
                    
                    
                    
                    -
                    
                    
                    
                    (7,500
                    )Accounts
      payable and accrued liabilities
                    
                    
                    (500
                    )
                    
                    
                    15,000
                    
                    
                    
                    16,500Net
      Cash Used in Operating Activities
                    
                    
                    (195,702
                    )
                    
                    
                    (14,861
                    )
                    
                    
                    (285,682
                    )Investing
      Activities:Acquisition
      and costs of patent
                    
                    
                    -
                    
                    
                    
                    (18,700
                    )
                    
                    
                    (18,700
                    )Net
      Cash Used in Investing Activities
                    
                    
                    -
                    
                    
                    
                    (18,700
                    )
                    
                    
                    (18,700
                    )Financing
      Activities:Common
      stock issued
                    
                    
                    52,150
                    
                    
                    
                    60,300
                    
                    
                    
                    292,450Loans
      from related parties - directors and stockholders
                    
                    
                    11,700
                    
                    
                    
                    3,950
                    
                    
                    
                    12,000Net
      Cash Provided by Financing Activities
                    
                    
                    63,850
                    
                    
                    
                    64,250
                    
                    
                    
                    304,450Net
      (Decrease) Increase in Cash
                    
                    
                    (131,852
                    )
                    
                    
                    30,689
                    
                    
                    
                    68Cash
      - Beginning of Period
                    
                    
                    131,920
                    
                    
                    
                    -
                    
                    
                    
                    -Cash
      - End of Period
                    
                    $
                    68
                    
                    
                    $
                    30,689
                    
                    
                    $
                    68Supplemental
      Disclosure of Cash Flow Information:Cash
      paid during the period for:Interest
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -Income
      taxes
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -
 The
accompanying notes to financial statements are
 an
integral part of these statements.
  F-5
  DYNAMIC
APPLICATIONS CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES
TO FINANCIAL STATEMENTS
  (1)  Summary of Significant Accounting
Policies
 
 Basis
of Presentation and Organization
 
 Dynamic
Applications Corp. (“Dynamic Applications” or the “Company”) is a Delaware
corporation in the development stage and has not commenced operations. The
Company was incorporated under the laws of the State of Delaware on March 7,
2008. The Company has changed its business plan and is now planning to focus its
activities in the clean tech industry and is considering various initiatives.
The accompanying financial statements of Dynamic Applications were prepared from
the accounts of the Company under the accrual basis of accounting.
 
 Unaudited
Interim Financial Statements
 
 The
interim financial statements of the Company as of September 30, 2009, and for
the periods ended, and cumulative from inception, are unaudited. However, in the
opinion of management, the interim financial statements include all adjustments,
consisting of only normal recurring adjustments, necessary to present fairly the
Company’s financial position as of September 30, 2009, and the results of its
operations and its cash flows for the periods ended September 30, 2009, and
cumulative from inception. These results are not necessarily indicative of the
results expected for the calendar year ending December 31, 2009. The
accompanying financial statements and notes thereto do not reflect all
disclosures required under accounting principles generally accepted in the
United States. Refer to the Company’s audited financial statements as of
December 31, 2008, filed with the SEC, for additional information, including
significant accounting policies.
 
 Cash and Cash
Equivalents
 
 For
purposes of reporting within the statement of cash flows, the Company considers
all cash on hand, cash accounts not subject to withdrawal restrictions or
penalties, and all highly liquid debt instruments purchased with a maturity of
three months or less to be cash and cash equivalents.
  Revenue
Recognition
 
 The
Company is in the development stage and has yet to realize revenues from
operations. Once the Company has commenced operations, it will recognize
revenues when delivery of goods or completion of services has occurred provided
there is persuasive evidence of an agreement, acceptance has been approved by
its customers, the fee is fixed or determinable based on the completion of
stated terms and conditions, and collection of any related receivable is
probable.
  Loss
per Common Share
 
 Basic
loss per share is computed by dividing the net loss attributable to the common
stockholders by the weighted average number of shares of common stock
outstanding during the period. Fully diluted loss per share is computed similar
to basic loss per share except that the denominator is increased to include the
number of additional common shares that would have been outstanding if the
potential common shares had been issued and if the additional common shares were
dilutive. There were no dilutive financial instruments issued or outstanding for
the period ended September 30, 2009.
  Income
Taxes
 
 The
Company accounts for income taxes pursuant to SFAS No. 109, Accounting for Income Taxes
(“SFAS 109”). Under SFAS 109, deferred tax assets and liabilities are determined
based on temporary differences between the bases of certain assets and
liabilities for income tax and financial reporting purposes. The deferred tax
assets and liabilities are classified according to the financial statement
classification of the assets and liabilities generating the
differences.
  F-6
  The
Company maintains a valuation allowance with respect to deferred tax assets. The
Company establishes a valuation allowance based upon the potential likelihood of
realizing the deferred tax asset and taking into consideration the Company’s
financial position and results of operations for the current period. Future
realization of the deferred tax benefit depends on the existence of sufficient
taxable income within the carryforward period under the federal tax
laws.
 
 Changes
in circumstances, such as the Company generating taxable income, could cause a
change in judgment about the realizability of the related deferred tax asset.
Any change in the valuation allowance will be included in income in the year of
the change in estimate.
 
 Fair
Value of Financial Instruments
 
 The
Company estimates the fair value of financial instruments using the available
market information and valuation methods. Considerable judgment is required in
estimating fair value. Accordingly, the estimates of fair value may not be
indicative of the amounts the Company could realize in a current market
exchange. As of September 30, 2009, the carrying value of accrued liabilities,
and loans from directors and stockholders approximated fair value due to the
short-term nature and maturity of these instruments.
  Patent
and Intellectual Property
 
 The
Company capitalizes the costs associated with obtaining a Patent or other
intellectual property associated with its intended business plan. Such costs are
amortized over the estimated useful lives of the related assets.
  Deferred
Offering Costs
 
 The
Company defers as other assets the direct incremental costs of raising capital
until such time as the offering is completed. At the time of the completion of
the offering, the costs are charged against the capital raised. Should the
offering be terminated, deferred offering costs are charged to operations during
the period in which the offering is terminated.
 
 Impairment
of Long-Lived Assets
 
 The
Company evaluates the recoverability of long-lived assets and the related
estimated remaining lives when events or circumstances lead management to
believe that the carrying value of an asset may not be recoverable. For the
period ended September 30, 2009, no events or circumstances occurred for which
an evaluation of the recoverability of long-lived assets was
required.
  Common
Stock Registration Expenses
 
 The
Company considers incremental costs and expenses related to the registration of
equity securities with the SEC, whether by contractual arrangement as of a
certain date or by demand, to be unrelated to original issuance transactions. As
such, subsequent registration costs and expenses are expensed as
incurred.
  Estimates
 
 The
financial statements are prepared on the basis of accounting principles
generally accepted in the United States. The preparation of financial statements
in conformity with generally accepted accounting principles requires management
to make estimates and assumptions that affect the reported amounts of assets and
liabilities as of September 30, 2009, and expenses for the period ended
September 30, 2009, and cumulative from inception. Actual results could differ
from those estimates made by management.
  F-7
  Subsequent
events
 
 The
Company evaluated events occurring between the balance sheet date and October 30
, 2009 , the date the financial statements were issued.
 
 Recent Accounting
Pronouncements
 
 In June
2009, the FASB issued SFAS No. 166 “Accounting for Transfers of Financial
Assets—an amendment of FASB Statement No. 140” (“SFAS 166”). SFAS 166 improves
the relevance, representational faithfulness, and comparability of the
information that a reporting entity provides in its financial statements about a
transfer of financial assets; the effects of a transfer on its financial
position, financial performance, and cash flows; and a transferor’s continuing
involvement, if any, in transferred financial assets. SFAS 166 is effective as
of the beginning of each reporting entity’s first annual reporting period that
begins after November 15, 2009, for interim periods within that first annual
reporting period and for interim and annual reporting periods thereafter. The
Company does not expect that the adoption of this standard will have a material
impact on the Company's financial statements.
 
 In June
2009, the FASB issued SFAS No. 167 “Amendments to FASB Interpretation No. 46(R)”
(“SFAS 167”). SFAS 167 improves financial reporting by enterprises involved with
variable interest entities and to address (1) the effects on certain provisions
of FASB Interpretation No. 46 (revised December 2003), “Consolidation of
Variable Interest Entities”, as a result of the elimination of the qualifying
special-purpose entity concept in SFAS 166 and (2) constituent concerns about
the application of certain key provisions of Interpretation 46(R), including
those in which the accounting and disclosures under the Interpretation do not
always provide timely and useful information about an enterprise’s involvement
in a variable interest entity. SFAS 167 is effective as of the beginning of each
reporting entity’s first annual reporting period that begins after November 15,
2009, for interim periods within that first annual reporting period, and for
interim and annual reporting periods thereafter. The Company does not expect
that the adoption of this standard will have a material impact on the Company's
financial statements.
 
 In June
2009, the FASB issued SFAS No. 168 “The FASB Accounting Standards Codification
and the Hierarchy of Generally Accepted Accounting Principles—a replacement of
FASB Statement No. 162”. The FASB Accounting Standards Codification
(“Codification”) will be the single source of authoritative nongovernmental U.S.
generally accepted accounting principles. Rules and interpretive releases of the
SEC under authority of federal securities laws are also sources of authoritative
GAAP for SEC registrants. SFAS 168 is effective for interim and annual periods
ending after September 15, 2009. All existing accounting standards are
superseded as described in SFAS 168. All other accounting literature not
included in the Codification is non-authoritative. The Company does not expect
that the adoption of this standard will have a material impact on the Company's
financial statements.
 
 On May
28, 2009, the Financial Accounting Standards Board issued Subsequent Events
("SFAS No. 165"). SFAS No. 165 provides guidance on management's assessment of
subsequent events and requires additional disclosure about the timing of
management's assessment of subsequent events. SFAS No. 165 does not
significantly change the accounting requirements for the reporting of subsequent
events. SFAS No. 165 is effective for interim or annual financial periods ending
after June 15, 2009. The Company adopted SFAS No. 165 as of September 30,
2009.
 
 In April
2009, the FASB issued FSP No. FAS 157-4, “Determining Fair Value When the Volume
and Level of Activity for the Asset or Liability Have Significantly Decreased
and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”). FSP FAS
157-4 provides guidance on estimating fair value when market activity has
decreased and on identifying transactions that are not orderly. Additionally,
entities are required to disclose in interim and annual periods the inputs and
valuation techniques used to measure fair value. This FSP is effective for
interim and annual periods ending after June 15, 2009.
  F-8
  (2) Development Stage Activities and
Going Concern
 
 The
Company is currently in the development stage, The
Company has commenced activity in the carbon credit market.
 
 The
Company has completed a capital formation activity in accordance with a
Registration Statement on Form S-1 submitted to the SEC to register and sell in
a self-directed offering 6,000,000 (post forward stock split) shares of newly
issued common stock at an offering price of $0.04 per share for proceeds of
$80,000. The Company had incurred $20,000 of deferred offering costs related to
this capital formation activity.
 
 As of
December 10, 2008 the Company raised $200,000 and issued 60,000,000 (post
forward stock split) shares of its common stock pursuant to a private placement
offering of 28,000,000 shares, at a purchase price of $0.01 per share. The
Company received proceeds of $200,000. The Company incurred $20,000 of deferred
offering costs related to this capital formation activity.
 
 The
accompanying financial statements have been prepared in conformity with
accounting principles generally accepted in the United States of America, which
contemplate continuation of the Company as a going concern. The Company has not
established any source of revenue to cover its operating costs, and as such, has
incurred an operating loss since inception. Further, as of September 30, 2009,
the cash resources of the Company were insufficient to meet its current business
plan. These and other factors raise substantial doubt about the Company’s
ability to continue as a going concern. The accompanying financial statements do
not include any adjustments to reflect the possible future effects on the
recoverability and classification of assets or the amounts and classification of
liabilities that may result from the possible inability of the Company to
continue as a going concern.
 
 (3) Patent
 
 In March
2008, the Company entered into a Patent Transfer and Sale Agreement whereby the
Company acquired all of the rights, title and interest in the patent known as
the “Electromagnetic percussion device” for consideration of $17,000 plus legal
fees of $1,700. The United States Patent Application 5,497,555 was granted on
March 12, 1996. Under the terms of the Patent Transfer and Sale Agreement, the
Company was assigned rights to the patent free of any liens, claims, royalties,
licenses, security interests or other encumbrances. The assignment of the patent
was recorded at the U.S. Patent and Trademark Office on April 13, 2008. The cost
of obtaining the patent ($17,000) and related legal fees ($1,700) have been
capitalized by the Company. The historical cost of the Patent will be amortized
over its remaining useful life, which is estimated to be 5 years.
 
 (4) Loans from Related Parties -
Directors and Stockholders
 
 As of
September 30, 2009, loans from directors and stockholders amounted to $12,000
and represented working capital advances from Directors who are also
stockholders of the Company. The loans are unsecured, non-interest bearing, and
due on demand.
 
 (5) Common Stock
 
 On March
17, 2008, the Company issued 9,000,000 (post forward stock split) shares of its
common stock to two individuals who are Directors and officers for proceeds of
$300.
  The Company has completed a capital
formation activity in accordance with a Registration Statement on Form S-1
submitted to the SEC to register and sell in a self-directed offering 6,000,000
(post forward stock split) shares of newly issued common stock at an offering
price of $0.04 per share for proceeds of $80,000. The Registration Statement on
Form S-1 was filed with the SEC on May 6, 2008 and declared effective on May 15,
2008. The Company had incurred $20,000 of deferred offering costs related to
this capital formation activity.
  F-9
  As of
December 10, 2008 the Company raised $200,000 and issued 60,000,000 (post
forward stock split) shares of its common stock pursuant to a private placement
offering of 28,000,000 shares, at a purchase price of $0.01 per share. The
Company received proceeds of $200,000. The Company incurred $20,000 of deferred
offering costs related to this capital formation activity.
 
 On
February 5, 2009, the Company implemented a 3 for 1 forward stock split on its
issued and outstanding shares of common stock to the holders of record as of
February 5, 2009. As a result of the split, each holder of record on the record
date automatically received two additional shares of the Company’s common stock.
After the split, the number of shares of common stock issued and outstanding
were 86,145,000 shares. The accompanying financial statements and related notes
thereto have been adjusted accordingly to reflect this forward stock
split.
  On August
9, 2009, the Company agreed to issue to each of Messrs. Palas, Keshet and
Weinberg 7,178,750 shares of the common stock of the Company, which constituted
an aggregate total of 21,538,250 of such shares in connection with the execution
of a Cooperation and Partnership Agreement with GBH, pursuant to which, among
other things, GBH agreed to contribute, convey, assign and transfer to the
Company all of GBH's rights title and interest in specified carbon credit
projects.These share issuances are subject to the prior finalization and
approval of a stock plan relating to the common stock under applicable Israeli
law by the Company and/or its Israeli subsidiary, which finalization and
approval remains pending.
  On
September 16, 2009, the Company raised $15,000 and issued 300,000 (post forward
stock split) shares of its common stock pursuant to a private placement
offering, at a purchase price of $0.05 per share.
  On
October 13, 2009 Dynamic Applications Corp. entered into an amendment to the
Executive Employment Agreement between the Company and Mr. Asher Zwebner, the
Company's chief financial officer.  Under the Amendment, Mr. Zwebner's
term of employment is extended until October 31, 2010 and in lieu of the
existing employment compensation set forth in the employment agreement, Mr.
Zwebner will be entitled to receive 500,000 shares of common stock in the
Company.  This restricted stock vests in 12 equal monthly installments
at the end of each month beginning in October 1, 2009 for so long as Mr. Zwebner
has not been terminated or ceases employment with the
Company.
  (6) Income Taxes
 
 The
provision (benefit) for income taxes for the period ended September 30, 2009 and
2008, was as follows (assuming a 23% effective tax rate):
 
 2009
                      
                      
                      2008Current
      Tax Provision:Federal-Taxable
      income
                      
                      $
                      -
                      
                      
                      $
                      -Total
      current tax provision
                      
                      $
                      -
                      
                      
                      $
                      -Deferred
      Tax Provision:Federal-Loss
      carryforwards
                      
                      $
                      48,417
                      
                      
                      $
                      7,298Change
      in valuation allowance
                      
                      
                      (48,417
                      )
                      
                      
                      (7,298
                      )Total
      deferred tax provision
                      
                      $
                      -
                      
                      
                      $
                      -
 
 The
Company had deferred income tax assets as of September 30, 2009 and December 31,
2008, as follows:
 
 2009
                      
                      
                      2008Loss
      carryforwards
                      
                      $
                      69,067
                      
                      
                      $
                      20,651Less
      - Valuation allowance
                      
                      
                      (69,067
                      )
                      
                      
                      (20,651
                      )Total
      net deferred tax assets
                      
                      $
                      -
                      
                      
                      $
                      -
 
 The
Company provided a valuation allowance equal to the deferred income tax assets
for the period ended September 30, 2009, because it is not presently known
whether future taxable income will be sufficient to utilize the loss
carryforwards.
 
 As of
September 30, 2009, the Company had approximately $300,292 in tax loss
carryforwards that can be utilized in future periods to reduce taxable income,
and which expire through the year 2029.
 
 (7) Related Party
Transactions
 
 As
described in Note 4, as of September 30, 2009, the Company owed $12,000 to
Directors, officers, and principal stockholders of the Company for working
capital loans.
  F-10
  As
described in Note 5, on March 17, 2008, the Company issued 9,000,000 (post
forward stock split) shares of its common stock to Directors and officers for
proceeds of $300.
 Effective
February1, 2009, Dynamic
Applications entered into a consulting agreement with Go Alfa Ltd. and
designating Eli Gonen, one of the Company's directors, as the person to perform
the services on behalf of Go Alfa Ltd. The term of the agreement is from the
commencement of Mr. Gonen's/Go Alfa's services to the Company and until ninety
days after either the Company or Mr. Goore provide notice of termination (unless
a longer period is specified in such notice or upon immediate termination by the
Company "for cause").  This consulting agreement provides for a
monthly fee of $5,000 from the commencement of the agreement until July 31. As
of August 1, the monthly fee is $8,000 per month. Mr Gonen is entitled to
receive an aggregate amount of 6 million ordinary shares of the
Company.  These shares shall vest in four equal annual installments,
commencing as of the consummation of 12 months from May 1, 2009 provided that on
each vesting date the agreement with Go Alfa is still in
effect.
  (8) Commitments
 
 Effective
on November 1, 2008, the Company entered into an Executive Employment Agreement
with Mr. Asher Zwebner (“Zwebner Agreement”), which engaged Mr. Zwebner as its
Chief Financial Officer who will perform the operational and financial
management of the Company. Pursuant to the Agreement, Mr. Zwebner will receive
$2,000 per month during the one-year term, commencing on November 1, 2008 and
ending on October 31, 2009. If the Agreement is terminated for any reason by
either party during the term, Mr. Zwebner will be entitled to the base salary as
if the Agreement expired at the end of the one year term. On
October 13, 2009 Dynamic Applications Corp. entered into an amendment to the
Executive Employment Agreement between the Company and Mr. Asher Zwebner, the
Company's chief financial officer.  Under the Amendment, Mr. Zwebner's
term of employment is extended until October 31, 2010 and in lieu of the
existing employment compensation set forth in the employment agreement, Mr.
Zwebner will be entitled to receive 500,000 shares of common stock in the
Company.  This restricted stock vests in 12 equal monthly installments
at the end of each month beginning in October 1, 2009 for so long as Mr. Zwebner
has not been terminated or ceases employment with the
Company.
 
 In
addition to his monthly salary, Mr. Zwebner is entitled to receive prompt
reimbursements for all normal and reasonable expenses incurred while performing
services as Chief Financial Officer of the Company. Effective
February1, 2009, Dynamic
Applications entered into a consulting agreement with Go Alfa Ltd. and
designating Eli Gonen, one of the Company's directors, as the person to perform
the services on behalf of Go Alfa Ltd. The term of the agreement is from the
commencement of Mr. Gonen's/Go Alfa's services to the Company and until ninety
days after either the Company or Mr. Goore provide notice of termination (unless
a longer period is specified in such notice or upon immediate termination by the
Company "for cause").  This consulting agreement provides for a
monthly fee of $5,000 from the commencement of the agreement until July 31. As
of August 1, the monthly fee is $8,000 per month. Mr Gonen is entitled to
receive an aggregate amount of 6 million ordinary shares of the
Company.  These shares shall vest in four equal annual installments,
commencing as of the consummation of 12 months from May 1, 2009 provided that on
each vesting date the agreement with Go Alfa is still in
effect.
 
 On June
9, 2009, Dynamic Applications Corp. (“Dynamic” or the "Company") entered into a
management services agreement with Ori Goore, Dynamic’s principal executive
officer and director. The agreement is dated as of June 9, 2009. The term of the
agreement is from the commencement of Mr. Goore's services to the Company on
March 1, 2009 until ninety days after either the Company or Mr. Goore provide
notice of termination (unless a longer period is specified in such notice or
upon immediate termination by the Company "for cause").
  Mr.
Goore’s agreement provides for a monthly salary of approximately $10,000 (35,639
New Israeli Shekels per month plus value added tax), an annual bonus equal to 5%
of the annual profits of the Company above $1 million and reimbursement of
specified expenses. Mr. Goore is also entitled to receive restricted common
stock of the Company, which will vest in 1,722,900 share increments each 12
month period following the commencement of his employment, during a four year
period. The agreement provides, in the event of a termination after 12 months of
service to the Company, Mr. Goore will receive the monthly salary for each year
of service including fractions thereof for service for less than the full year.
The agreement also provides for Mr. Goore to receive any unpaid bonus awarded
for the year prior to termination. The agreement imposes obligations on Mr.
Goore relating to non-competition.
  On August
9, 2009, the Company entered into a Cooperation and Partnership Agreement with
Green Biofuels Holding Ltd., or GBH, an Israeli corporation. Under this
agreement GBH agreed to contribute, convey, assign and transfer all of GBH's
rights title and interest in specified Carbon Reduction Projects.  As
compensation, the Company agreed to pay GBH a compensation payment of 3% of the
first six years of total gross income derived from an accepted project, from
income paid to Dynamic or to any third party recruited by Dynamic to participate
in such project or to any of its affiliated companies. The payment will apply
only when the total gross income derived from the accepted project reaches 1
million Euros for the first time.
  The
Company further agreed to arrange financing of 44,000 Euro for a Fuxin Project
by August 19, 2009, and 26,000 Euro for a coal mine and two projects in the
Ukraine and Kazakhstan by August 27, 2009. In addition, the Company agreed to
provide further financing for the benefit of these aforesaid projects in the
amount of 100,000 Euro up until September 15, 2009 and 110,000 Euro up until
October 1, 2009. The Company has not as of yet arranged for these financings but
however is continuing to seek such financings thru the issuance of debt and/or
equity securities whereby the agreements with GBH are still in effect and the
delay on the financing has not had an adverse affect on the
agreements.
 
 (9) Concentration of Credit
Risk
  The
Company’s cash and cash equivalents are invested in a major bank in Israel and
are not insured. Management believes that the financial institution that holds
the Company’s investments is financially sound and accordingly, minimal credit
risk exists with respect to these investments.
  F-11


Item
2. Management’s Discussion and Analysis or Plan of Operations.





As used
in this Form 10-Q, references to the “Dynamic Applications,” Company,” “we,”
“our” or “us” refer to Dynamic Applications Corp. unless the context otherwise
indicates.





Forward-Looking
Statements





The
following discussion should be read in conjunction with our financial
statements, which are included elsewhere in this Form 10-Q (the “Report”). This
Report contains forward-looking statements which relate to future events or our
future financial performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expects,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or
the negative of these terms or other comparable terminology. These statements
are only predictions and involve known and unknown risks, uncertainties, and
other factors that may cause our or our industry’s actual results, levels of
activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by
these forward-looking statements.





For a
description of such risks and uncertainties refer to our Registration Statement
on Form S-1 and Form 10-K, filed with the Securities and Exchange Commission on
May 6, 2008 and January 26, 2009, respectively. While these forward-looking
statements, and any assumptions upon which they are based, are made in good
faith and reflect our current judgment regarding the direction of our business,
actual results will almost always vary, sometimes materially, from any
estimates, predictions, projections, assumptions or other future performance
suggested herein. Except as required by applicable law, including the securities
laws of the United States, we do not intend to update any of the forward-looking
statements to conform these statements to actual results.





Overview





We were
incorporated in Delaware on March 7, 2008 and are a development stage company.
Since inception we have had limited operations. On March 27, 2008, we entered
into an exclusive worldwide patent sale agreement (the "Patent Transfer and Sale
Agreement ") with Appelfeld Zer Fisher, in relation to a patented technology
(Patent Number: 5497555). The technology presents the design and development of
an electromagnetic percussion machine whose striking piston is made of a single
monolithic block of material and which is, as result, more durable and rugged
than heretofore comparable device in exchange for a commitment to pay Appelfeld
Zer Fisher US $17,000 (Seventeen thousand United States Dollars), according to
the condition specified in the Patent Transfer and Sale Agreement related to the
Patent Number: 5497555.




The
Company has currently ceased to pursue the development of the
patent.




3


On March
23, the Company announced that it is exploring an emerging opportunity in the
clean technology industry and is considering various other initiatives. The
Company believes that the clean technology industry can play a major role in
providing solutions to some of the most acute challenges the world faces today.
By entering the clean technology industry, The Company intends to contribute to
both improving world environmental conditions and creating value for its
shareholders.




Effective
February1, 2009, Dynamic
Applications entered into a consulting agreement with Go Alfa Ltd. and
designating Eli Gonen, one of the Company's directors, as the person to perform
the services on behalf of Go Alfa Ltd. The term of the agreement is from the
commencement of Mr. Gonen's/Go Alfa's services to the Company and until ninety
days after either the Company or Mr. Goore provide notice of termination (unless
a longer period is specified in such notice or upon immediate termination by the
Company "for cause").  This consulting agreement provides for a
monthly fee of $5,000 from the commencement of the agreement until July 31. As
of August 1, the monthly fee is $8,000 per month. Mr Gonen is entitled to
receive an aggregate amount of 6 million ordinary shares of the
Company.  These shares shall vest in four equal annual installments,
commencing as of the consummation of 12 months from May 1, 2009 provided that on
each vesting date the agreement with Go Alfa is still in
effect.




Change
in Management









Forward
Stock Split





Effective
as of February 5, 2009, the Company implemented a 3 to 1 forward stock split of
its issued and outstanding shares of common stock. Pursuant to the split, the
27,715,000 shares of common stock issued and outstanding prior to said date were
increased to 86,145,000 shares. The payment date was on February 12, 2009. On
such date, 2 additional shares were mailed to the shareholders without any
further action on the part of the shareholders.





Plan
of Operations





We were
incorporated in Delaware on March 7, 2008 and are a development stage
company.  Since inception we have had limited operations.
 
 On March
23, 2009, the Company announced that it is exploring an emerging opportunity in
the clean technology industry and is considering various other initiatives. The
Company believes that the clean technology industry can play a major role in
providing solutions to some of the most acute challenges the world faces today.
By entering the clean technology industry, the Company intends to contribute to
both improving world environmental conditions and creating value for its
shareholders. The Company's current focus in the clean technology industry
include activity in the carbon credit markets. The Company has also started an
initiative regarding the industrial application of the Kenaf crop and completed
a market research of the Kenaf market in China.
 
 On June
10, 2009, the Company announced it had started initial negotiation discussions
with coal mines in China for the purpose of tailoring a carbon credit deal. On
August 9, 2009, the Company entered into a Cooperation and Partnership Agreement
with Green Biofuels Holding Ltd., or GBH, an Israeli corporation. Under this
agreement GBH agreed to contribute, convey, assign and transfer all of GBH's
rights title and interest in specified carbon credit projects.  The
Company has been in the process of developing and arranging financing for the
development of these projects.




4




Going
Concern Consideration





The
Company is a development stage company and has not commenced planned principal
operations. The Company had no revenues and incurred a net loss of
$172,897  for the six months ended June 30, 2009, and a net loss
of $84,733 for the three months then ended. These factors raise substantial
doubt about the Company’s ability to continue as a going concern.





The
financial statements  for the period ending December 31, 2008, contain
additional note disclosures describing the circumstances that lead to this
disclosure by our registered independent auditors.





Liquidity
and Capital Resources




As of
September 30 , 2009, we had $68  in cash and incurred net losses of
$210,507  during the period ending September 30
, 2009.





The
Company does not believe that its available funds will be sufficient to fund its
expenses over the next 12 months. There can be no assurance that additional
capital will be available to the Company. The Company currently has no
agreements, arrangements, or understandings with any person to obtain funds
through bank loans, lines of credit, or any other sources other than advances
from certain shareholders for working capital purposes. Since the Company has no
such arrangements or plans currently in effect, its inability to raise funds for
the above purposes will have a severe negative impact on its ability to remain a
viable company. The Company is however seeking additional equity financing from
certain financial institutions to enable its continuance with its proposed
business plan.




5


Off
Balance Sheet Arrangements





We do not
have any off-balance sheet arrangements that have or are reasonably likely to
have a current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures, or capital resources that are material to investors.





Item
3. Quantitative and Qualitative Disclosures About Market Risk





A smaller
reporting company, as defined by Item 10 of Regulation S-K, is not required to
provide the information required by this item.





Item
4 Controls and Procedures.





Our
disclosure controls and procedures are designed to ensure that information
required to be disclosed in reports that we file or submit under the Securities
Exchange Act of 1934 is recorded, processed, summarized and reported within the
time periods specified in the rules and forms of the United States Securities
and Exchange Commission. Our principal executive officer and principal financial
and accounting officers have reviewed the effectiveness of our “disclosure
controls and procedures” (as defined in the Securities Exchange Act of 1934
Rules 13(a)-15(e) and 15(d)-15(e)) within the end of the period covered by this
Quarterly Report on Form 10-Q and have concluded that the disclosure controls
and procedures are effective to ensure that material information relating to the
Company is recorded, processed, summarized, and reported in a timely manner.
There were no significant changes in our internal controls or in other factors
that could significantly affect these controls subsequent to the last day they
were evaluated by our principal executive officer and principal financial and
accounting officers.





Item
4(T) Controls and Procedures.





There
have been no changes  in
the  Company’s  internal  control  over  financial
reporting identified in connection with the evaluation required by paragraph (d)
of Rule  240.15d-15  that occurred during the Company’s last
fiscal quarter that has  materially  affected,  or
is reasonable  likely to materially  affect,  the
Company internal control over financial reporting.





PART
II


OTHER
INFORMATION





Item
1. Legal Proceedings.





There are
no pending legal proceedings to which the Company is a party or in which any
director, officer or affiliate of the Company, any owner of record or
beneficially of more than 5% of any class of voting securities of the Company,
or security holder is a party adverse to the Company or has a material interest
adverse to the Company. The Company’s property is not the subject of any pending
legal proceedings.





Item
1A.           Risk
Factors




A smaller
reporting company, as defined by Item 10 of Regulation S-K, is not required to
provide the information required by this item.




6


Item
2. Unregistered Sales of Equity Securities and Use of
Proceeds.





The
Company issued 300,000 shares of restricted common stock ( post forward 1-3
split ) in exchange of $15,000 during the nine months ended September 30 2009
..


On August
9, 2009, the Company agreed to issue to each of Messrs. Palas, Keshet and
Weinberg 7,178,750 shares of the common stock of the Company, which constituted
an aggregate total of 21,538,250 of such shares in connection with the execution
of a Cooperation and Partnership Agreement with GBH, pursuant to which, among
other things, GBH agreed to contribute, convey, assign and transfer to the
Company all of GBH's rights title and interest in specified carbon credit
projects.These share issuances are subject to the prior finalization and
approval of a stock plan relating to the common stock under applicable Israeli
law by the Company and/or its Israeli subsidiary, which finalization and
approval remains pending.


Purchases
of equity securities by the issuer and affiliated purchasers





None.





Use
of Proceeds





None





Item
3. Defaults Upon Senior Securities.





None.





Item
4. Submission of Matters to a Vote of Security Holders.





There was
no matter submitted to a vote of security holders during the nine
months  ended September 30, 2009.





Item
5. Other Information.





None




Item
6. Exhibits





Exhibit
                No.
              
              Description31.1
              
              Rule
      13a-14(a)/15d14(a) Certifications of Ori Goore, Chief Executive Officer
      and Director (attached hereto)31.2
              
              Rule
      13a-14(a)/15d14(a) Certifications of Asher Zwebner,  Chief
      Financial Officer and Director(attached hereto)32.1
              
              Section
      1350 Certifications of Ori Goore, Chief Executive Officer and
      Director(attached hereto)32.2
              
              Section
      1350 Certifications of Asher Zwebner, Chief Financial Officer and
      Director(attached hereto)




7


SIGNATURES





In
accordance with to requirements of the Exchange Act, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.




DYNAMIC APPLICATIONS
      CORP .Dated:
      November 5, 2009
                By:
                /s/
      Ori Goore,Name:
                Ori
      GooreTitle:
                Chief
      Executive Officer and
                  Director
      (Principal Executive Officer)By:
                /s/
      Asher ZwebnerName:
                Asher
      ZwebnerTitle:
                Chief
      Financial Officer and Director(Principal
      Financial and AccountingOfficer)




8